NQ Mobile Q1 Revenue Hits Record

NQ Mobile hit a new record in its first fiscal quarter. Its new report reveals that revenue hit an all-time high of $33.2 million, more than double the nearly $16 million the company posted in the same period the previous year. Attributable net profit also rose, climbing to $2.9 million ($0.05 per diluted share) from Q1 2012's $2.1 million ($0.04).

NQ Mobile also provided top-line forward guidance. For its current Q2 2013, net revenues are expected to come in at $38.5 million to $38.8 million. The same line item for the entirety of fiscal 2013 is now estimated at $179 million to $184 million, an uptick from the company's previous guidance of $178 million to $183 million.

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Fool contributor Eric Volkman has no position in NQ Mobile. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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